DODO Review by AcE234
AcE234
AcE
DODO is a decentralized exchange (DEX) that uses a novel algorithm called Proactive Market Maker (PMM) to provide on-chain and contract-fillable liquidity for everyone. Unlike traditional market makers that rely on constant price curves, PMM can adjust the price curves according to the market conditions and the liquidity provider's risk preferences. This allows PMM to offer lower slippage, higher capital efficiency, and better price discovery than other DEXes. I have been using DODO for a few months and I am impressed by its features and performance. Some of the features that I like are: - SmartTrade: This is a one-stop trading service that allows me to swap any token pair across multiple DEXes with the best price and minimal gas fees. SmartTrade also supports limit orders, which let me set a target price and execute the trade automatically when the market reaches that price. - Crowdpooling: This is a fair and transparent way of launching new tokens on DODO. Crowdpooling allows anyone to create a liquidity pool for a new token and set the initial price and supply. Then, anyone can participate in the pool by contributing an equal amount of the base token (such as USDT or ETH). At the end of the pool, the new token is distributed proportionally to the participants, and the pool becomes a normal PMM pool. Crowdpooling prevents front-running, bots, and unfair price manipulation that often plague other token launch platforms. - Pools: This is where I can join or create a PMM pool and earn passive income from trading fees and DODO rewards. DODO offers a variety of pool options, such as single-token pools, composite pools, and customized pools. I can also adjust the pool parameters, such as the oracle price, the liquidity depth, and the fee ratio, to optimize my returns and risks. - Mining: This is where I can stake my DODO tokens and earn more DODO tokens as rewards. DODO has a fixed total supply of 1 billion tokens, and 49% of them are allocated to the community through mining programs. Mining rewards are distributed daily and can be claimed anytime. Of course, no project is perfect, and DODO also has some drawbacks and challenges. Some of the issues that I encountered or noticed are: - Low liquidity and volume for some token pairs: Although DODO has over 50 pools and supports hundreds of tokens, some of the pools have very low liquidity and volume, which means high slippage and low profitability. This is especially true for the pools that are not incentivized by mining rewards or are not integrated with SmartTrade. DODO needs to attract more liquidity providers and traders to its platform by offering more incentives, partnerships, and marketing. - High gas fees: This is a common problem for all Ethereum-based DEXes, and DODO is no exception. Sometimes, the gas fees are higher than the trading fees, which makes it unaffordable or unreasonable to use DODO. DODO has launched its own chain called DODO Zoo, which is compatible with Ethereum and Binance Smart Chain, and offers much lower gas fees. However, DODO Zoo is still in beta and has not been widely adopted yet. DODO needs to improve its cross-chain infrastructure and user experience to make it more accessible and attractive to users. - Smart contract risks: DODO's PMM algorithm is based on smart contracts that are deployed on the blockchain. While DODO claims that its contracts have been audited and secured, there is always a possibility of bugs, hacks, or exploits that could result in loss of funds or disruption of services. DODO needs to ensure that its contracts are constantly updated, monitored, and tested to prevent any potential attacks or incidents. Overall, I think DODO is a promising and innovative project that aims to revolutionize the DEX space with its PMM algorithm. I enjoy using DODO and I look forward to its future developments and improvements. If you are looking for a DEX that offers low slippage, high capital efficiency, and fair token launches, you should